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Ryanair Holdings PLC (RYAAY) - free report >>
Expeditors International of Washington, Inc. (EXPD) - free report >>
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Ryanair Holdings PLC (RYAAY) - free report >>
Expeditors International of Washington, Inc. (EXPD) - free report >>
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Ryanair Posts 70% Drop in October Traffic Amid Coronavirus Woes
Ryanair Holdings’ (RYAAY - Free Report) October traffic declined 70% year over year to 4.1 million guests as coronavirus keeps air-travel demand suppressed.
The carrier operated approximately 40% of its normal schedule in October. Its load factor (percentage of seats filled with passengers) in the month was 73%. On a rolling-annual basis, total traffic at Ryanair (including the LaudaMotion unit) plunged 53% to 70.3 million.
This European low-cost carrier recently reported second-quarter fiscal 2021 results. The company incurred a loss (excluding $1.08 from non-recurring items) of 12 cents per share in fiscal second quarter, narrower than the Zacks Consensus Estimate of a loss of 26 cents. In the year-ago period, the company reported earnings of $4.51 per share.
Quarterly revenues of $1,228.4 million surpassed the Zacks Consensus Estimate of $1,174.1 million. However, the top line plunged more than 60% year over year due to dramatic drop in traffic. Amid coronavirus-led travel restrictions, Ryanair operated only 50% of its normal schedule in fiscal second quarter. (Read more: Ryanair Q2 Loss Narrower Than Expected, Revenues Beat)
Ryanair Holdings PLC Price
Ryanair Holdings PLC price | Ryanair Holdings PLC Quote
Zacks Rank & Key Picks
Ryanair carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader Transportation sector are Canadian Pacific Railway Limited (CP - Free Report) , Expeditors International of Washington Inc (EXPD - Free Report) and FedEx Corporation (FDX - Free Report) . While FedEx sports a Zacks Rank #1 (Strong Buy), Canadian Pacific and Expeditors carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Canadian Pacific Railway, Expeditors and FedEx have rallied more than 25%, 11% and 81% so far this year, respectively.
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